Word: mercosur
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Many South American unions are against the free-trade area. And Brazil, the biggest economy in Latin America, worries about its inefficient, state-protected industries. Brazil wants to assert itself as the Latin economic and political leader through Mercosur, its customs union with Argentina, Chile and other neighbors, and it will be the region's toughest negotiator...
...President visits Venezuela, Brazil, Argentina and Chile, building the case for Congress to grant him powers to negotiate trade pacts without the shackles of pork-barrel politics: the so-called Fast Track. Where Reagan spooked Americans with tales of toppling dominoes, Clinton may rely on the specter of Mercosur. The trade association combining the booming economies of Brazil, Argentina, Paraguay and Uruguay is fast emerging as an alternative to U.S.-dominated trade pacts, and has pledged to sign a free trade pact with the European Union...